E-way bill generation under the Goods and Services Tax (GST) regime increased by 18.8 per cent year-on-year to 132.6 million in February, according to data released by the Goods and Services Tax Network. Although slightly lower than 136.8 million recorded in January, the February figure marks the third-highest monthly tally so far, reflecting sustained activity in the movement of goods across the country.
The surge follows the GST rate rationalisation implemented on September 22, 2025, after which e-way bill generation had climbed to a record 138.4 million in December, indicating a strong pickup in trade and logistics activity.
An e-way bill is an electronically generated document mandated under the Goods and Services Tax framework for the transportation of goods valued at over ₹50,000. It contains details of the consignment, consignor, consignee and transporter, enabling authorities to track the movement of goods in real time and helping curb tax evasion in both inter-state and intra-state transport.
Experts say the data reflects steady economic momentum and improving compliance under the GST system. Pratik Jain, partner at PricewaterhouseCoopers, noted that the strong growth in February highlights continued economic activity and strengthening compliance mechanisms.
According to him, the 18.8 per cent year-on-year rise indicates improving consumption demand and deeper GST compliance. “The sustained high levels of e-way bill generation suggest stable supply chain activity and could support healthy GST collections in the months ahead,” Jain said.
Similarly, Harpreet Singh, partner at Deloitte, stated that the figures underline robust goods movement across the economy. He observed that the slight sequential dip from January reflects a typical post-January normalisation, while the nearly 19 per cent annual growth signals strong underlying demand and continued formalisation of supply chains under GST.
The upbeat data also comes amid expectations of stronger consumption in the economy. According to the Second Advance Estimates released on February 27 by the Ministry of Statistics and Programme Implementation, Private Final Consumption Expenditure (PFCE)—a key measure of consumer demand—is projected to grow 7.7 per cent in real terms in FY26, compared to 5.8 per cent in FY25.
In nominal terms, PFCE is expected to expand 8.9 per cent, with its share in nominal GDP rising to 56.7 per cent in FY26 from 56.5 per cent in FY25.
The projected increase in consumption is expected to support overall real GDP growth of 7.6 per cent in FY26, up from 7.1 per cent in the previous year, based on the revised GDP series with 2022–23 as the base year.
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